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Regina Real Estate Market - June 2012

The Regina Real Estate market continues to be strong. The Association of Regina REALTORS® MLS® (Multiple Listing Service) reported that sales, listings and average selling prices have increased over the June 2011 numbers.

Statistics for June 2012 compared to June 2011:

Sales in Regina and area were up 3% - from 414 to 428

Sales in the city were up 5% - from 340 to 357

Average sale price in Regina and area was up 10% - from $284,283 to $312,241

Average sale price in the city was up 15% - from $286,920 to $328,980

Active Listings at the end of June - 1,334, including 575 in the city of which 107 are conditionally sold

New listings in June was down 4% - from 685 to 659

Year-to-date:

Number of Sales was up 15% - from 1,941 to 2,225

Average sale price was up 8% - from $277,623 to $300,045

Regina is currently in a seller's market with a sales-to-listings ratio of more than 60 per cent. Keeping this in mind, sellers need to be cautious about what their initial asking price is. Even though listings are selling quickly, there are still some price reductions for properties that may have been over-priced keeping the house on the market for a longer period of time.

As local market experts, CENTURY 21 Dome Realty sales professionals are uniquely trained and qualified to help home buyers navigate the opportunities that exist in the local real estate market and provide sellers with excellent marketing and exposure for their properties. To view property listings, please visit our website at www.century21.ca/lane.boghean

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